House File 2011 - Introduced



                                       HOUSE FILE       
                                       BY  ZIRKELBACH


    Passed House,  Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act concerning eligibility for post-retirement adjustments to
  2    benefits under the municipal fire and police retirement
  3    system.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 5340HH 82
  6 ec/rj/8

PAG LIN



  1  1    Section 1.  Section 411.6, subsection 12, paragraph d, Code
  1  2 2007, is amended to read as follows:
  1  3    d.  A retired member eligible for benefits under subsection
  1  4 1 of this section is not eligible for the readjustment of
  1  5 pensions provided in this subsection unless the member served
  1  6 twenty=two years and attained the age of fifty=five years
  1  7 prior to the member's termination of employment or the member
  1  8 served twenty=nine years and attained the age of fifty years
  1  9 prior to the member's termination of employment.
  1 10    Sec. 2.  IMPLEMENTATION PROVISION == CONTRIBUTION RATE
  1 11 CALCULATION.  Notwithstanding any provision of section 411.8
  1 12 to the contrary, the statewide fire and police retirement
  1 13 system established by chapter 411 shall not increase the
  1 14 contribution rate of members of the system to cover any
  1 15 increase in cost to the system resulting from this Act.
  1 16                           EXPLANATION
  1 17    This bill makes changes to the Municipal Fire and Police
  1 18 Retirement System of Iowa (MFPRSI) created in Code chapter
  1 19 411.
  1 20    Code section 411.6, subsection 12, concerning the annual
  1 21 readjustment of pensions following retirement, is amended to
  1 22 provide that a retired member is eligible to receive this
  1 23 readjustment if the member served 29 years and attained the
  1 24 age of 50 years prior to the member's termination of
  1 25 employment.  Current law, which provides that a member who
  1 26 serves 22 years and is 55 years of age at the time of
  1 27 termination is eligible to receive the readjustment, is
  1 28 unchanged by the bill.
  1 29    The bill further provides that members of MFPRSI shall not
  1 30 have their contribution rates increased to pay for the new
  1 31 benefit provided by the bill.
  1 32 LSB 5340HH 82
  1 33 ec/rj/8